Largest life insurer in Romania more than doubles profit

ING Asigurari de Viata, the largest life insurance company in Romania, increased its business by 10% and more than doubled its profit last year. The company’s gross underwritten premiums reached EUR 140 million, from EUR 126 million in 2013, as clients were more interested in unit-linked life insurance policies, which have an investment component. The average gross premiums went up by 10% to over EUR 380. “On the life insurance segment we saw higher interest from clients for unit-linked products and, in particular, for single-premium contracts. Thus, the unit-linked products increased their share in the overall sales for 2014 by almost 9 percentage points, to 35%, a level which we last reached four years ago,” said Marius Popescu, general manager of ING Asigurari. The company’s gross profit went up 2.5 times last year, to EUR 7 million. editor@romania-insider.com